Open Banking, Finance, PSD2 and GDPR. FinTech

Learn how api acts as a standardized software messenger linking platforms, and review non-technical open public, partner, and internal api types, with a focus on distribution and innovation.

Explore how APIs power travel bookings and Uber by connecting airlines and aggregators, and by leveraging services like AWS, Twilio, Google Maps, Braintree, and SendGrid.

Explain open banking as a regulator-driven UK initiative, outlining data sharing via secure, standardized APIs with explicit customer consent and roles of the open banking implementation entity, including authorized organizations.

Explore how PSD2, a European Union regulation, opens access to account data. Learn how it aims to create an integrated payments market, boost competition, and protect consumers.

Learn how an AISP delivers read-only access to your bank data with explicit consent, providing a secure single-view of balances and transactions across accounts in open banking under PSD2.

Explain how a payment initiation service provider (psp) can initiate payments from a user’s bank account with consent, without holding funds, storing data, or altering transaction details.

the issuing service provider, or CISPA, checks funds availability with a bank to authorize card payments, sharing only balance-related info with consent, within open banking under PSD2.

Define account servicing payment service providers, i.e., banks, under PSD2 and explain their obligations to process payments and share account information with explicit consent, enabling open banking and fintech competition.

Explore how access to account acts as a secured gateway that protects your information, enforcing credentials, consent, and strong customer authentication through application programming interfaces for third-party providers.

Explore API banking and open banking through Alexa and Messenger payments, showing how apps that are not financial institutions enable seamless financial services via bank APIs and broader reach.

Learn how GDPR harmonizes EU data privacy laws, governs processing of personal data, and applies to EU-based businesses, with 72-hour breach reporting and penalties.

Explore the seven principles of GDPR, including lawfulness, fairness and transparency, purpose limitation, data minimization, accuracy, integrity and confidentiality, storage limitation, and accountability.

Explore individuals' rights under GDP, including being informed, access, rectification, erasure, restriction of processing, data portability, objection, and automated decision making and profiling, with penalties discussed.

Examine GDPR penalties, including 10 million euros or 2 percent of global turnover for second offenses, and up to 20 million euros or 4 percent for major breaches.

Explore why PSD2, open banking, and GDPR matter for regulators, consumers, and fintechs by enabling data control, standardization, and seamless, secure digital financial services.

Identify the stakeholders of open banking, PSD2, and GDPR, and describe their perspectives, from customers benefiting from data portability and easy switching to banks and fintechs leveraging API sharing.